Detailed Single Year Tables
Description of Proposed Provision:
E3.17: Beginning in 2025, increase the taxable maximum by twice the rate of increase in the national Average Wage Index, but never by less than 3 percent. Provide benefit credit for earnings up to the revised taxable maximum levels.
Financial Estimates for the OASDI Trust Fund Program
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
|
Expressed as a percentage of current-law taxable payroll |
Trust fund ratio as of January 1 |
Expressed as a percentage of current-law taxable payroll |
|||||||
|
Calendar year |
Cost rate |
Income rate |
Annual balance |
Cost rate |
Income rate |
Annual balance |
|||
| 2023 | 14.53 | 13.29 | -1.24 | 204 | 0.00 | 0.00 | 0.00 | ||
| 2024 | 14.87 | 12.89 | -1.98 | 187 | 0.00 | 0.00 | 0.00 | ||
| 2025 | 15.04 | 13.05 | -1.99 | 168 | 0.00 | 0.08 | 0.08 | ||
| 2026 | 15.23 | 13.24 | -1.99 | 150 | -0.00 | 0.16 | 0.16 | ||
| 2027 | 15.38 | 13.33 | -2.05 | 133 | 0.00 | 0.24 | 0.24 | ||
| 2028 | 15.55 | 13.44 | -2.11 | 117 | 0.00 | 0.31 | 0.31 | ||
| 2029 | 15.72 | 13.54 | -2.18 | 101 | 0.00 | 0.38 | 0.38 | ||
| 2030 | 15.87 | 13.64 | -2.24 | 85 | 0.00 | 0.45 | 0.45 | ||
| 2031 | 16.01 | 13.73 | -2.28 | 70 | 0.00 | 0.52 | 0.51 | ||
| 2032 | 16.15 | 13.82 | -2.33 | 55 | 0.01 | 0.58 | 0.57 | ||
| 2033 | 16.28 | 13.89 | -2.39 | 41 | 0.01 | 0.64 | 0.63 | ||
| 2034 | 16.39 | 13.95 | -2.44 | 26 | 0.01 | 0.69 | 0.68 | ||
| 2035 | 16.49 | 14.01 | -2.48 | 12 | 0.01 | 0.74 | 0.73 | ||
| 2036 | 16.57 | 14.07 | -2.51 | ---- | 0.02 | 0.79 | 0.77 | ||
| 2037 | 16.66 | 14.12 | -2.54 | ---- | 0.02 | 0.84 | 0.82 | ||
| 2038 | 16.72 | 14.17 | -2.55 | ---- | 0.03 | 0.88 | 0.86 | ||
| 2039 | 16.78 | 14.22 | -2.56 | ---- | 0.03 | 0.93 | 0.89 | ||
| 2040 | 16.82 | 14.27 | -2.56 | ---- | 0.04 | 0.97 | 0.93 | ||
| 2041 | 16.85 | 14.31 | -2.54 | ---- | 0.05 | 1.01 | 0.96 | ||
| 2042 | 16.87 | 14.35 | -2.52 | ---- | 0.06 | 1.05 | 1.00 | ||
| 2043 | 16.90 | 14.39 | -2.50 | ---- | 0.07 | 1.09 | 1.03 | ||
| 2044 | 16.92 | 14.43 | -2.49 | ---- | 0.08 | 1.13 | 1.05 | ||
| 2045 | 16.95 | 14.47 | -2.47 | ---- | 0.09 | 1.17 | 1.08 | ||
| 2046 | 16.98 | 14.51 | -2.47 | ---- | 0.10 | 1.20 | 1.10 | ||
| 2047 | 17.01 | 14.55 | -2.46 | ---- | 0.11 | 1.24 | 1.13 | ||
| 2048 | 17.05 | 14.59 | -2.47 | ---- | 0.12 | 1.27 | 1.15 | ||
| 2049 | 17.10 | 14.62 | -2.47 | ---- | 0.14 | 1.30 | 1.16 | ||
| 2050 | 17.14 | 14.66 | -2.48 | ---- | 0.16 | 1.34 | 1.18 | ||
| 2051 | 17.19 | 14.69 | -2.50 | ---- | 0.17 | 1.37 | 1.20 | ||
| 2052 | 17.25 | 14.73 | -2.52 | ---- | 0.19 | 1.40 | 1.21 | ||
| 2053 | 17.32 | 14.76 | -2.55 | ---- | 0.21 | 1.43 | 1.22 | ||
| 2054 | 17.39 | 14.80 | -2.60 | ---- | 0.23 | 1.46 | 1.23 | ||
| 2055 | 17.48 | 14.83 | -2.65 | ---- | 0.25 | 1.49 | 1.24 | ||
| 2056 | 17.58 | 14.87 | -2.71 | ---- | 0.27 | 1.52 | 1.25 | ||
| 2057 | 17.67 | 14.90 | -2.77 | ---- | 0.30 | 1.55 | 1.25 | ||
| 2058 | 17.78 | 14.94 | -2.84 | ---- | 0.32 | 1.58 | 1.26 | ||
| 2059 | 17.88 | 14.97 | -2.91 | ---- | 0.35 | 1.60 | 1.26 | ||
| 2060 | 17.99 | 15.00 | -2.98 | ---- | 0.37 | 1.63 | 1.26 | ||
| 2061 | 18.09 | 15.04 | -3.05 | ---- | 0.40 | 1.66 | 1.26 | ||
| 2062 | 18.18 | 15.07 | -3.12 | ---- | 0.42 | 1.68 | 1.26 | ||
| 2063 | 18.27 | 15.10 | -3.18 | ---- | 0.45 | 1.71 | 1.26 | ||
| 2064 | 18.36 | 15.13 | -3.23 | ---- | 0.48 | 1.73 | 1.26 | ||
| 2065 | 18.45 | 15.16 | -3.29 | ---- | 0.50 | 1.76 | 1.25 | ||
| 2066 | 18.53 | 15.18 | -3.35 | ---- | 0.53 | 1.78 | 1.25 | ||
| 2067 | 18.62 | 15.21 | -3.41 | ---- | 0.56 | 1.80 | 1.24 | ||
| 2068 | 18.70 | 15.24 | -3.46 | ---- | 0.58 | 1.82 | 1.24 | ||
| 2069 | 18.79 | 15.27 | -3.52 | ---- | 0.61 | 1.85 | 1.23 | ||
| 2070 | 18.87 | 15.29 | -3.58 | ---- | 0.64 | 1.87 | 1.23 | ||
| 2071 | 18.95 | 15.32 | -3.64 | ---- | 0.67 | 1.89 | 1.22 | ||
| 2072 | 19.03 | 15.34 | -3.69 | ---- | 0.70 | 1.91 | 1.21 | ||
| 2073 | 19.11 | 15.37 | -3.74 | ---- | 0.72 | 1.93 | 1.21 | ||
| 2074 | 19.18 | 15.39 | -3.79 | ---- | 0.75 | 1.95 | 1.20 | ||
| 2075 | 19.24 | 15.41 | -3.83 | ---- | 0.78 | 1.97 | 1.19 | ||
| 2076 | 19.29 | 15.44 | -3.86 | ---- | 0.80 | 1.99 | 1.19 | ||
| 2077 | 19.33 | 15.46 | -3.88 | ---- | 0.83 | 2.01 | 1.18 | ||
| 2078 | 19.36 | 15.48 | -3.88 | ---- | 0.85 | 2.03 | 1.18 | ||
| 2079 | 19.36 | 15.49 | -3.87 | ---- | 0.87 | 2.05 | 1.17 | ||
| 2080 | 19.36 | 15.51 | -3.85 | ---- | 0.90 | 2.06 | 1.17 | ||
| 2081 | 19.35 | 15.53 | -3.82 | ---- | 0.92 | 2.08 | 1.17 | ||
| 2082 | 19.33 | 15.54 | -3.79 | ---- | 0.93 | 2.10 | 1.16 | ||
| 2083 | 19.30 | 15.56 | -3.74 | ---- | 0.95 | 2.11 | 1.16 | ||
| 2084 | 19.26 | 15.57 | -3.69 | ---- | 0.97 | 2.13 | 1.16 | ||
| 2085 | 19.21 | 15.58 | -3.63 | ---- | 0.98 | 2.15 | 1.16 | ||
| 2086 | 19.16 | 15.59 | -3.57 | ---- | 1.00 | 2.16 | 1.16 | ||
| 2087 | 19.10 | 15.60 | -3.50 | ---- | 1.01 | 2.18 | 1.17 | ||
| 2088 | 19.04 | 15.61 | -3.43 | ---- | 1.02 | 2.19 | 1.17 | ||
| 2089 | 18.99 | 15.62 | -3.37 | ---- | 1.03 | 2.20 | 1.17 | ||
| 2090 | 18.94 | 15.63 | -3.31 | ---- | 1.05 | 2.22 | 1.17 | ||
| 2091 | 18.90 | 15.64 | -3.26 | ---- | 1.06 | 2.23 | 1.18 | ||
| 2092 | 18.87 | 15.65 | -3.22 | ---- | 1.07 | 2.25 | 1.18 | ||
| 2093 | 18.85 | 15.66 | -3.19 | ---- | 1.08 | 2.26 | 1.18 | ||
| 2094 | 18.85 | 15.67 | -3.17 | ---- | 1.09 | 2.27 | 1.18 | ||
| 2095 | 18.85 | 15.69 | -3.16 | ---- | 1.11 | 2.28 | 1.18 | ||
| 2096 | 18.86 | 15.70 | -3.16 | ---- | 1.12 | 2.30 | 1.18 | ||
| 2097 | 18.88 | 15.71 | -3.17 | ---- | 1.13 | 2.31 | 1.18 | ||
| 2098 | 18.92 | 15.73 | -3.19 | ---- | 1.14 | 2.32 | 1.17 | ||
Summarized Estimates
| Proposal | Change from Current Law | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| Years | Cost rate |
Income rate |
Actuarial balance |
Year of reserve depletion1 |
Cost rate |
Income rate |
Actuarial balance |
||
| 2023-2097 | 17.79% | 15.17% | -2.63% | 2035 | 0.41% | 1.39% | 0.98% | ||
1 Under current law, the year of Trust Fund reserve depletion is 2034. |
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Based on Intermediate Assumptions of the 2023 Trustees Report.